---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-012015"
form_type: "8-K"
ticker: "FXNC"
cik: "0000719402"
company_name: "FIRST NATIONAL CORP /VA/"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:08:32.896114+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First National Q1 net income $3.8M ($0.61 EPS); NIM 3.60%, dividend raised to $0.15

## Summary
- Net income of $3.8M ($0.61 diluted EPS) vs $4.8M ($0.76) in Q4 2022 and $3.7M ($0.60) in Q1 2022.
- Net interest margin 3.60%, down 10 bps linked quarter; cost of funds rose 23 bps to 0.77%.
- Deposits stable at $1.2B; uninsured deposits estimated at $212.3M; liquidity $562.4M.
- Tangible book value $17.30; quarterly dividend increased 7% to $0.15 per share.
- Adopted CECL on Jan 1, adding $2.2M to loan loss allowance; NPAs improved to 0.13% of assets.

## SEC filing metadata
- accession: 0001437749-23-012015
- form_type: 8-K
- ticker: FXNC
- cik: 0000719402
- company_name: FIRST NATIONAL CORP /VA/
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/719402/000143774923012015/0001437749-23-012015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719402/000143774923012015/fxnc20230421_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-012015
- JSON: https://secwatch.observer/filing/0001437749-23-012015.json
- Plain text: https://secwatch.observer/filing/0001437749-23-012015.txt

## Key facts
- Earnings Releases
  FIRST NATIONAL CORP /VA/ reported first quarter 2023 results: net income $3.8 million, EPS $0.61.
  - Period: first quarter 2023
  - Net income: $3.8 million
  - EPS: $0.61
  - Result: reported results
  source text: First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported unaudited consolidated net income of $3.8 million and diluted earnings per common share of $0.61 for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/719402/000143774923012015/0001437749-23-012015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.